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USA Today
01-07-2025
- Business
- USA Today
VelaFi Launches as the Next Evolution of TruBit Business, Powering Financial Infrastructure
Backed by over two years of development and 500+ global institutional clients, VelaFi enters the market with mature infrastructure and proven scale. With operations across LATAM, the U.S., Asia, and expanding into EMEA, VelaFi delivers modern infrastructure for businesses navigating complex financial environments. After over two years of development and operations, Galactic Holdings, the parent company of TruBit Business, officially announces the launch of VelaFi: the natural evolution of its enterprise-focused vertical. This new identity reflects a more focused, institutional, and global vision, built on a foundation of solid technology and hands-on experience. With over 500 institutional global clients and a validated infrastructure, VelaFi positions itself as a mature platform built to operate across complex and fragmented financial environments. The company currently has active operations in Latin America, the United States, Hong Kong, and Singapore, and continues to expand partnerships across the Middle East, Europe, and Africa. VelaFi's launch comes at a pivotal moment for the transformation of the global financial system. Stablecoins have now surpassed $250 billion in circulation worldwide, signaling increasing and sustained market adoption. As regulatory frameworks around digital payments continue to evolve businesses operating across jurisdictions require modern, reliable infrastructure aligned with new compliance expectations. 'We've spent years building the infrastructure that businesses in emerging markets actually need,' said Maggie Wu, CEO and Co-Founder of VelaFi. 'This isn't about entering the market-we've been here, solving real problems for real companies. What you're seeing now is the natural evolution of that work: proven technology, established relationships, and a clear vision for how cross-border financial infrastructure should work in today's economy.' VelaFi was born from a deep understanding of the challenges that companies face in emerging markets. From its early days as TruBit Business, the company identified a critical need: financial infrastructure capable of navigating fragmented regulatory environments, inconsistent banking relationships, and cross-border operational demands, without sacrificing speed or compliance. That vision has been shaped through direct experience with clients in sectors like import/export, logistics, SaaS, fintech, and global services. Through these partnerships, the platform has evolved into a model that not only processes transactions but also delivers operational tools, regional intelligence, and a regulatory-first architecture ready to scale. The name VelaFi, inspired by the Spanish word vela (sail), reflects the company's philosophy: direction, structure, and the ability to move forward, even in turbulent waters. Today, the platform offers scalable payment solutions, integrable APIs, and real-time tools for treasury management, reconciliation, and compliance, all built with regulatory readiness at its core. This foundation has proven its ability to scale sustainably, not just through geographic reach, but by adapting to diverse environments, integrating with local systems, and providing structure where the market often delivers uncertainty. VelaFi doesn't aim to impose a one-size-fits-all model, it builds from the logic of each market, using strong infrastructure principles as the basis for global growth. 'Our clients don't need another payment processor,' Wu added. 'They need infrastructure that understands the complexity of their operations and provides clarity where the market only offers fragmentation. That's what we've built-and that's what we're scaling.' In a world where companies increasingly operate across multiple currencies, jurisdictions, and regulatory frameworks, VelaFi addresses a structural challenge: enabling sustainable growth through modern, intelligent infrastructure. With a clear institutional focus and a proven platform, the company is entering a new phase of expansion-launching new products and deepening its international presence to support businesses operating across the world's most complex markets. About VelaFi VelaFi is a financial infrastructure platform designed for companies operating in emerging markets and fragmented financial environments. Evolved from TruBit Business – the B2B unit of Galactic Holdings – it provides cross-border payment solutions, regulatory compliance tools, and operational scalability for institutions. The platform currently operates across Latin America, the United States, and Asia, with expansion underway into the Middle East, Europe, and Africa. Its mission is clear: to build the infrastructure layer that real companies need to grow without friction in a transforming financial system. Press contact: For more information, visit SOURCE: Galactic Holdings View the original press release on ACCESS Newswire
Associated Press
24-02-2025
- Business
- Associated Press
TruBit Partners with MoneyGram to Launch Their Global On/Off-Ramp Service in LATAM
DALLAS, TX / ACCESS Newswire / February 24, 2025 / TruBit, Latin America's leading crypto payment platform, has announced a strategic integration with MoneyGram Access™, the first-of-its-kind global on/off-ramp service for digital asset wallets, developed by MoneyGram International, Inc. ('MoneyGram'), a leading global financial technology company that connects the world's communities, in collaboration with the Stellar Development Foundation (SDF), a non-profit organization that supports the growth and development of the Stellar network. This partnership extends the reach of the MoneyGram Access and Stellar's services across Latin America, where TruBit operates in key markets including Mexico, Argentina, Brazil, and Colombia - regions that collectively receive over $82.06 billion in annual remittances. With Mexico alone recording $64.75 billion in remittances in 2024 ( Bank of Mexico), the partnership highlights the critical role of cross-border payments in regional economies where cash remains a significant barrier to financial inclusion. By combining Stellar's efficient blockchain technology with MoneyGram's extensive cash-in and cash-out network, TruBit offers a seamless solution to these challenges. The integration, activated by MoneyGram, enables users to deposit cash into digital wallets by easily converting fiat to USDC at participating MoneyGram locations. Likewise, users can withdraw digital assets at MoneyGram locations, such as OXXO in Mexico, Cobro Express in Argentina, Bancolombia in Colombia, among other retail stores and banks. Leveraging USDC, a leading stablecoin, ensures reliable and flexible transactions, giving TruBit users greater financial control while seamlessly bridging the gap between physical and digital economies. This image illustrates how TruBit and MoneyGram work together: users can cash in local currency to USDC via MoneyGram in 35+ countries and cash out by converting USDC back to local currency in 150+ countries worldwide. Maggie Wu, CEO and Co-Founder of TruBit, commented: 'This partnership is a significant breakthrough in bridging cash and digital assets, like USDC, combining innovation and accessibility to better serve our users. We are excited to collaborate with a global leader like MoneyGram to drive financial inclusion and create transformative solutions for the Latin American market.' This partnership highlights TruBit's mission to make the digital economy more accessible across Latin America. By providing a secure and user-friendly bridge between cash and cryptocurrency, TruBit empowers individuals and businesses to engage in the digital financial system, regardless of their technical expertise. About TruBit TruBit, established in LATAM in 2020, is a comprehensive global crypto platform built on two core pillars: payments and trading. At its forefront is TruBit Business, delivering compliant cross-border payment solutions that seamlessly integrate fiat and crypto for businesses. For trading, TruBit Pro provides advanced tools for experienced traders, while the TruBit Wallet supports easy conversion and Earn+ features. The Mastercard TruBit card enables convenient crypto spending. As a pioneer in compliant fiat on-and-off ramp services, TruBit operates in key LATAM markets like Mexico, Argentina, Brazil, Colombia, Chile, and Peru, with a growing footprint in the U.S., Hong Kong, and Europe. Its commitment to regulatory compliance, security, and innovation empowers businesses and users worldwide, bridging the gap between fiat and crypto through seamless trading, remittance, and payment services. About MoneyGram MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. The Company is a pioneer in the use of blockchain technology at scale and also enables consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world's most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world. The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for three consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than $200 billion USD annually. Relentlessly digital-first and customer-centric, the Company's digital transactions now account for over 50% of its money transfer business. About Stellar The Stellar network is a decentralized, fast, scalable, and uniquely sustainable blockchain built for financial products and services. It offers builders smart contracts functionality and a protocol optimized for payments, with a design intended to keep fees low and to provide transaction speeds that can scale with increased adoption. Financial institutions and innovators worldwide issue assets and settle payments on the Stellar network, which has processed billions of operations with millions of accounts since the network was first launched. Stellar Development Foundation The Stellar Development Foundation (SDF) is a non-profit organization focused on working with and supporting changemakers to create equitable access to the global financial system through blockchain technology. SDF provides grants, investments, funding, and other awards to builders and organizations. SDF also develops resources and tooling on the Stellar network to help unlock real world utility. As a nonprofit foundation, SDF puts the health of the Stellar network and the Stellar ecosystem and its mission above all else. For more information, visit MoneyGram Media Contact
